BJP attacks Chidambaram for `self-congratulation`

New Delhi: BJP on Thursday targeted Finance Minister P Chidambaram for his claims on the state of the economy, saying his "self-congratulation" falls flat as the Rupee is increasingly getting devalued and people have no avenues to invest.

The main opposition also criticised Chidambaram for suggesting that people should not invest in gold.

"The Finance Minister has commented that there is no need to panic and indulged in self-congratulation about the state of the economy," BJP spokesperson Nirmala Sitharaman said hours after Chidambaram reassured everybody that the economy was on the upswing.

Sitharaman said minor upgrade of India`s position by ratings agency Fitch is now being highlighted by the government, which had earlier decried ratings agencies and their ratings.

"Why is the Indian economy in this state that the government is fire-fighting to get it back on the rails? Since Indira Gandhi`s rule, Congress has been talking about poverty alleviation," Sitharaman said.

She maintained that the economy was in such a "sorry state" that the government has to claim it is doing a good fire-fighting job.

The main opposition also hit out at Chidambaram for suggesting that people should not invest in gold. "You continue looting the country while people who cannot trust the Rupee anymore should not buy gold?" she said.

BJP suggested that the government should concentrate on strengthening the Rupee as its continuing devaluation is leading to increase in prices, especially of crude oil which is mainly imported.

"Citizens have nowhere to invest...Chidambaram says government`s image is more shining than that of opposition ... The Rupee is not worth even for buying food," she said.